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What people really want to know about Economic Impact Payments

IRS.gov has answers to many questions people may have about their Economic Impact Payment. Here are answers to some of the top questions people are asking about these payments. Is this payment considered taxable income? No, the payment is...

  • May 13, 2020

IRS Reminds Taxpayers to Report 2010 Roth Conversions on 2012 Returns

WASHINGTON — The Internal Revenue Service reminds taxpayers who converted amounts to a Roth IRA or designated Roth account in 2010 that in most cases they must report half of the resulting taxable income on their 2012 returns. Normally,...

  • February 20, 2013